DONDES: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
DONDES
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€80,033
2024 · -€196,883+€276,916
Equity
€1.3m
2024 · €1.2m+€80,033
Cash
€613,907
2024 · €204,476+€409,431
Balance sheet total
€5.1m
2024 · €5.0m+€161,850
Largest movements
Assets
- Cash +€409,431
up €409,431 (+200%), from €204,476 to €613,907
mainly Depreciation (+€191,325) and Current portion of long-term debt (+€93,618)
- Tangible fixed assets -€252,512
down €252,512 (-5.3%), from €4.8m to €4.5m
of which Land and buildings: -€303,868
Equity and liabilities
- Current portion of long-term debt +€93,618
new in 2025: €93,618
- Profit (loss) carried forward +€83,635
up €83,635 (+13.1%), from -€640,883 to -€557,248
Income statement
- Gross operating margin +€216,296
up €216,296 (+238%), from €90,915 to €307,211
- Financial charges +€20,397
up €20,397 (+575%), from €3,549 to €23,946
- Other operating charges +€12,290
up €12,290 (+129%), from €9,509 to €21,799
- Depreciation -€9,620
down €9,620 (-4.8%), from €200,944 to €191,325
- Financial income -€3,194
down €3,194 (-24.9%), from €12,812 to €9,618
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
-€196,883
Gross operating margin
+€216,296
Depreciation
+€9,620
Write-downs
-€614
Other operating charges
-€12,290
Other operating items
+€87,360
Financial income
-€3,194
Financial charges
-€20,397
Taxes
+€135
Result 2025
€80,033
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€282,043
Investment
+€51,235
Financing
+€76,153
Cash 2024
€204,476
From operations (derived)
+€282,043
Net result for the year
+€80,033
Depreciation
+€191,325
Receivables within one year
-€859
Deferred charges and accrued income
+€5,881
Provisions
-€1,201
Trade debts
+€5,249
Tax, wage and social debts
+€2,364
Accrued charges and deferred income
-€748
Investment (derived)
+€51,235
Investment in fixed assets (net)
+€61,187
Current investments
-€9,953
Financing
+€76,153
Debts after one year
-€17,465
Current portion of long-term debt
+€93,618
Cash 2025
€613,907
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,981,862 | €5,143,711 | +€161,850 | +3.2% |
| Fixed assets | 21/28 | €4,754,800 | €4,502,288 | -€252,512 | -5.3% |
| Tangible fixed assets | 22/27 | €4,754,800 | €4,502,288 | -€252,512 | -5.3% |
| Land and buildings | 22 | €4,645,467 | €4,341,599 | -€303,868 | -6.5% |
| Plant, machinery and equipment | 23 | €38,416 | €44,726 | +€6,310 | +16.4% |
| Furniture and vehicles | 24 | €70,917 | €115,963 | +€45,046 | +63.5% |
| Current assets | 29/58 | €227,062 | €641,424 | +€414,362 | +182% |
| Amounts receivable after more than one year | 29 | €30 | €30 | = | 0.0% |
| Trade receivables | 290 | €30 | €30 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,919 | €5,778 | +€859 | +17.5% |
| Trade receivables | 40 | €1,865 | €2,035 | +€170 | +9.1% |
| Other amounts receivable | 41 | €3,054 | €3,743 | +€689 | +22.6% |
| Current investments | 50/53 | €8,217 | €18,170 | +€9,953 | +121% |
| Cash at bank and in hand | 54/58 | €204,476 | €613,907 | +€409,431 | +200% |
| Deferred charges and accrued income | 490/1 | €9,420 | €3,539 | -€5,881 | -62.4% |
| Total equity and liabilities | 10/49 | €4,981,862 | €5,143,711 | +€161,850 | +3.2% |
| Equity | 10/15 | €1,204,891 | €1,284,924 | +€80,033 | +6.6% |
| Contributions | 10/11 | €1,555,723 | €1,555,723 | = | 0.0% |
| Contributions outside capital | 11 | €1,555,723 | €1,555,723 | = | 0.0% |
| Other | 1109/19 | €1,555,723 | €1,555,723 | = | 0.0% |
| Revaluation surpluses | 12 | €255,732 | €255,732 | = | 0.0% |
| Reserves | 13 | €34,320 | €30,717 | -€3,603 | -10.5% |
| Tax-exempt reserves | 132 | €34,320 | €30,717 | -€3,603 | -10.5% |
| Profit (loss) carried forward | 14 | -€640,883 | -€557,248 | +€83,635 | +13.1% |
| Provisions and deferred taxes | 16 | €15,100 | €13,899 | -€1,201 | -8.0% |
| Deferred taxes | 168 | €15,100 | €13,899 | -€1,201 | -8.0% |
| Amounts payable | 17/49 | €3,761,870 | €3,844,888 | +€83,018 | +2.2% |
| Amounts payable after more than one year | 17 | €3,736,375 | €3,718,910 | -€17,465 | -0.5% |
| Financial debts | 170/4 | €700,000 | €624,200 | -€75,800 | -10.8% |
| Other amounts payable | 178/9 | €3,036,375 | €3,094,709 | +€58,334 | +1.9% |
| Amounts payable within one year | 42/48 | €24,435 | €125,666 | +€101,231 | +414% |
| Current portion of amounts payable after more than one year | 42 | - | €93,618 | +€93,618 | |
| Trade debts | 44 | €5,898 | €11,147 | +€5,249 | +89.0% |
| Suppliers | 440/4 | €5,898 | €11,147 | +€5,249 | +89.0% |
| Taxes, remuneration and social security | 45 | €6,385 | €8,749 | +€2,364 | +37.0% |
| Taxes | 450/3 | €6,385 | €8,749 | +€2,364 | +37.0% |
| Other amounts payable | 47/48 | €12,152 | €12,152 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,060 | €312 | -€748 | -70.6% |
| Non-recurring operating income | 76A | - | €220,226 | +€220,226 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €200,944 | €191,325 | -€9,620 | -4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €614 | +€614 | |
| Other operating charges | 640/8 | €9,509 | €21,799 | +€12,290 | +129% |
| Non-recurring operating charges | 66A | €87,360 | €0 | -€87,360 | -100% |
| Gross operating margin | 9900 | €90,915 | €307,211 | +€216,296 | +238% |
| Operating profit (loss) | 9901 | -€206,898 | €93,474 | +€300,372 | |
| Financial income | 75/76B | €12,812 | €9,618 | -€3,194 | -24.9% |
| Recurring financial income | 75 | €12,812 | €9,618 | -€3,194 | -24.9% |
| Financial charges | 65/66B | €3,549 | €23,946 | +€20,397 | +575% |
| Recurring financial charges | 65 | €3,549 | €23,946 | +€20,397 | +575% |
| Profit (loss) for the period before taxes | 9903 | -€197,634 | €79,147 | +€276,781 | |
| Transfer from deferred taxes | 780 | €1,201 | €1,201 | = | 0.0% |
| Income taxes | 67/77 | €450 | €314 | -€135 | -30.1% |
| Profit (loss) for the period | 9904 | -€196,883 | €80,033 | +€276,916 | |
| Transfer from tax-exempt reserves | 789 | €3,603 | €3,603 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€193,281 | €83,635 | +€276,916 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.